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Insurance

The hidden truth of insurance cost and battery warranty that make your electric vehicle pricey

The hidden truth of insurance cost and battery warranty that make your electric vehicle pricey
The hidden truth of insurance cost and battery warranty that make your electric vehicle pricey
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Synopsis

Insurance and battery warranty are a significant cost for EVs. For example, these two can add over INR16,000, or 11.7%, to the ex-showroom price of an Ola S1 Pro. For a new Tata Nexon EV, insurance alone can cost over INR45,000. But why? Here’s a low-down.

Promise versus reality. Promise: Launch event announces a very affordable price for a vehicle. Reality: Excited, when you walk into the automaker’s showroom, the salesperson greets you and quotes a price which is much higher than announced. You are given a piece of paper that has the vehicle’s retail-price structure scribbled on it. Baffled, you start reading a long list of things that you need to pay for over and above the ex-showroom price —
( Originally published on Jul 17, 2023 )
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